The bill amends Section 7-2-14.3 of the New Mexico Statutes to remove the requirement for a board of county commissioners to conduct a public hearing before adopting an ordinance that makes a property tax rebate available for low-income taxpayers. The previous law mandated that if a county did not have an ordinance in effect, a public hearing must be held every odd-numbered year to discuss the potential adoption of such an ordinance. This requirement has been eliminated, allowing counties more flexibility in implementing tax rebates without the need for public hearings.

Additionally, the bill clarifies the eligibility criteria for low-income taxpayers seeking the rebate, specifying that married individuals filing separately can each claim half of the rebate that would have been available on a joint return. It also establishes that a board of county commissioners can adopt an ordinance to provide the property tax rebate, which must specify the taxable years it applies to, and requires notification to the department regarding the adoption of the ordinance. The bill further defines "principal place of residence" for the purposes of the tax rebate, ensuring clarity in the application of the law.

Statutes affected:
introduced version: 7-2-14.3